STAFFORD, FORT BEND COUNTY - Estates at Fountain Lake (formerly known as Alexan Fountain Lake), a 306-unit apartment community, has been sold.

Located on Fountain Lake Dr., just east of South Dairy Ashford Rd., this 13.6-acre community consists of 14 three-story garden-style buildings.

This community includes 198 one-bedroom, one-bath units and 108 two-bedroom, two-bath units. It is currently 100 percent preleased. Average rents are around $1,300 per month.

Unit updates will consist of new stainless steel appliances, fabricated wood flooring throughout the main living area and kitchen and granite countertops and new cabinets in the kitchen and baths. PPI also plans to add fenced, private yards to select first-floor apartments.